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Published on September 05, 2023 04:37 GMT+00:00edited on September 05, 2023 04:39 GMT+00:00

Ethereum price is struggling to recover above $1,650 against the US Dollar. ETH is showing bearish signs and might dive below the $1,600 support.

• Ethereum failed to gain strength for a move above the $1,650 zone.
• The price is trading below $1,640 and the 100-hourly Simple Moving Average.
• There are two bearish trend lines forming with resistance near $1,630 and $1,640 on the hourly chart of ETH/USD (data feed via Kraken).
• The pair could accelerate lower if the bears push it below the $1,600 support.

Ethereum Price Remains At Risk

Ethereum’s price attempted a recovery wave from the $1,600 support zone. ETH price climbed above the $1,630 level but the bears were active near the $1,650 zone, like Bitcoin.

The price is again moving lower and showing bearish signs. There are also …